Let’s Not be Petty: Getting Rid of Petty Cash

The petty cash drawer will always have a special place in our hearts—the hidden keys, the clang of the change, and a quick way to break a twenty or—but it's also an antiquated practice that is susceptible to fraud and abuse - and potentially can expose your organization to procurement policy or legal compliance issues. Petty cash can be difficult to track and presents challenges to ensuring expenses are recorded appropriately. Alternatives can provide better security and tracking of expenses and sometimes even provide cash back and other rewards. This session will discuss the risks of petty cash and how to help move not only the finance office, but all other departments to alternative forms of payment for small purchases.